Florida Bitcoin Investment: HB 183 Allows 10% in Crypto ETFs
Florida Bitcoin investment bill HB 183 would let the state allocate up to 10% of select public reserves and pension assets to Bitcoin and crypto ETFs. Under the proposal, the Chief Financial Officer and State Board of Administration could invest funds from the General Revenue Fund, Budget Stabilization Fund and Florida Retirement System Trust Fund in digital assets. Digital assets are defined broadly—covering Bitcoin, tokenized securities and NFTs—and must be held by qualified custodians or SEC-registered ETFs. The bill also allows residents to pay certain taxes and fees in crypto, which the state would convert to dollars for its general fund. Scheduled to take effect on July 1, 2026, pending legislative approval and the governor’s signature, HB 183 follows a March 2025 White House executive order on a Strategic Bitcoin Reserve. If enacted, Florida Bitcoin investment under HB 183 could boost institutional demand and set a model for other states.
Bullish
Florida’s move to allocate up to 10% of public funds to Bitcoin and crypto ETFs signals growing institutional adoption and creates new, large-scale demand. Short-term, the announcement could spur speculative buying as traders anticipate state purchases. In the long run, this policy may reduce available supply and increase price stability, reinforcing Bitcoin’s role as an inflation hedge. By following federal strategic reserve plans, HB 183 also sets a precedent for other states, potentially amplifying bullish momentum across the market.